Malta's Prime Minister Embraces Blockchain to Boost Economy and Fight Corruption

  • Alex Dovbnya
    📰 News

    Malta's prime minister Joseph Muscat is fully supporting the country’s huge bet on Blockchain, being himself an ardent proponent of the nascent industry


Malta's Prime Minister Embraces Blockchain to Boost Economy and Fight Corruption

According to a Bloomberg report, Malta's prime minister Joseph Muscat is fully supporting the country’s huge bet on Blockchain, being himself an ardent proponent of the nascent industry. He doesn’t deny that there a risk involved, but at the same time he claims that Blockchain is helping to diversify the country’s economy, which mainly relies on tourism and gaming, and even curb corruption.   

Malta, which is commonly dubbed a “Blockchain island”, has recently drastically lowered its tax rates in order to incentivize crypto businesses. As of now, the smallest economy in the EU is considered one of the world’s biggest crypto hubs.
 

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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